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Malloy Says No New Taxes

The state's budget deficit is now projected to top $1 billion, but Gov. Dannel P. Malloy has vowed he won't hike taxes again to close the budget gap.

Despite a growing budget shortfall that is expected to hit $1.1 billion in the next fiscal year, Gov. Dannel P. Malloy is vowing that he won't increase taxes again. Malloy last year hiked state taxes by an historic $1.5 billion to help balance the state budget.

Combined with the current year's budget gap of $365 million and the additional shortfall of about $1 billion expected in the 2013-2014 fiscal year, Malloy and state lawmakers are facing deficits of more than $2.5 billion when they meet in early 2013 to craft a new two-year budget, according to the Connecticut Mirror.

Malloy, however, said this week that the shortfalls will not require additional tax hikes. In a press conference following the release of the new budget figures, Malloy said the state fiscal problems are the result of weak economic factors nationwide and that no new taxes would be needed to close the budget gap.

Paul Chotkowski November 16, 2012 at 04:42 PM
Chairman Mao Loy makes a ridiculous statements like a deficit [oops should have said shortfall] of $2.5 BILLION will not require the State to raise taxes. Is there anyone in the State [other than SEBAC] that believe this lie? And yes it is a lie, just like “my orders to my national security team were do whatever we need to do to make sure they’re safe” or “I did not have sexual relations with that woman”. All three men looked us in the eye and lied to us with impunity. I can’t change history [did someone say Move On … org] or the election results but I can attempt to shine a light on the gross fiscal mismanagement in Hartford. A projected $2.5 Billion “shortfall” [which will most likely will be significantly worse given the economy’s current trajectory] after a $1.8 B tax increase and record borrowing / bonding is fiscal malfeasance. But who cares vote Democrat! In case you doubt the Tax and Spend credentials of the Democrat controlled CGA, according to Sunshine Review since 1980, state spending has risen from $4,400 per household to $10,000 per household, an increase of 227% [significantly above the rate of inflation] has your pay & benefits kept pace? State debt [recognized & unrecognized] exceeds $98.6 Billion. OK lets go all in! Raise taxes $3.5 B, increase spending on socially just programs & hasten the day that the state’s economy crashes. Only then will there be any HOPE that there will be a CHANGE moving FORWARD. Winter is coming - prepare!
Adam November 17, 2012 at 01:10 PM
The natural consequence of one-party governance. Connecticut voters amaze me. Lambs to the slaughter. Time to move.
Cryptoclearance November 17, 2012 at 01:47 PM
It is much too expensive to live in CT. Property taxes, insurance are just 2 examples. Now you are in heating season
Ron Patterson December 11, 2012 at 08:00 PM
Great summary of our weak and tax and spend government in CT. They say you get the government you deserve! Change voting for one party who takes you all for saps and taxes you to death. We need referendum rights and term limits in CT.

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